THE CONCEPT OF TRANSNATIONAL EXCHANGE IN THE LIGHT OF PRIVATISATION AS A FACTOR STIMULATING THE DEVELOPMENT OF THE WARSAW STOCK EXCHANGE. (Koncepcja gieldy ... w swietle prywatyzacji jako czynnika stymulujacego rozwój Gieldy ..)
The ongoing integration of the capital markets requires a rigorous monitoring. This is all the more important since the ever-changing conditions in the stock market. Main factors that led to a complete harmonization of the exchange with other entities trading in securities are privatization and cooperation with stronger foreign investor. This integration is linked not only to a number of challenges, but also gives hope for many new possibilities. Warsaw Stock Exchange (WSE) is also facing such challenges. The article discusses these conditioning in the context of the WSE development. The stock exchange's position in the global investment market to a large extent depends on the structure of ownership and involvement in technology. Most of the consolidation processes, however, do not progress without some interruptions. The main cause of failure is usually a difficulty in accepting the changes by both sides of potential cooperation. The greatest opportunity for future development of national stock exchanges is, therefore, privatization, and for the choice of a particular strategy, the potential of country's economy has a significant impact, including the potential of domestic capital market. When developing a way to publicize the final share exchange, it is necessary to realistically estimate its financial capabilities and future aspirations.
Financed by the National Centre for Research and Development under grant No. SP/I/1/77065/10 by the strategic scientific research and experimental development program:
SYNAT - “Interdisciplinary System for Interactive Scientific and Scientific-Technical Information”.